Question 1

Mark & Co., a regular purchaser of personal computers, wants to change product specifications, price, and delivery schedule of the product.This is an example of a _____.

Accepted Answer

A) new buy 
B) straight rebuy 
C) modified rebuy 
D) standard buy 
A) new buy 
B) straight rebuy 
C) modified rebuy 
D) standard buy

Question 2

Business-to-business electronic commerce over the Internet:

Accepted Answer

A) is not nearly as prevalent as consumer electronic commerce when measured by the total dollar value of all Internet transactions. 
B) is approximately four times greater than consumer electronic commerce when measured by the total dollar value of all Internet transactions. 
C) has dramatically decreased since face-to-face time is so important. 
D) is impossible to estimate since companies will not share information. 
A) is not nearly as prevalent as consumer electronic commerce when measured by the total dollar value of all Internet transactions. 
B) is approximately four times greater than consumer electronic commerce when measured by the total dollar value of all Internet transactions. 
C) has dramatically decreased since face-to-face time is so important. 
D) is impossible to estimate since companies will not share information.

Question 3

Which of the following statements represents an organizational buying decision?

Accepted Answer

A) Mr.Crowe buys a Toyota minivan to commute to work. 
B) A dentist buys a new DVD player for her den. 
C) Mr.Langley hires a housecleaning service to clean his apartment. 
D) A restaurant owner hires a snow removal service to keep the parking lot clear for its clients. 
A) Mr.Crowe buys a Toyota minivan to commute to work. 
B) A dentist buys a new DVD player for her den. 
C) Mr.Langley hires a housecleaning service to clean his apartment. 
D) A restaurant owner hires a snow removal service to keep the parking lot clear for its clients.

Question 4

A buying centre is a heterogeneous group consisting of individuals with different goals and knowledge related to purchase decisions.

Accepted Answer

A) True 
 B)False

Question 5

Mayor &Lawrell Inc.decides to shift its focus to firms looking for quality products and good customer service from those looking simply for lower prices.This is an example of segmenting business market on the basis of _____.

Accepted Answer

A) type of customer 
B) size of customer 
C) benefits sought 
D) customer location 
A) type of customer 
B) size of customer 
C) benefits sought 
D) customer location

Question 6

The demand for the cows at Rockeller's dairy farm is based on the consumer demand for milk, cheese, ice cream, cream, and butter.This is an example of inelastic demand.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is true about the North American Industry Classification System (NAICS)?

Accepted Answer

A) After being used more than 50 years, NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B) NAICS neither permits comparability across countries nor accurately measures new or emerging industries. 
C) NAICS provides a five-digit national industry code to each of the three countries. 
D) NAICS groups economic activity to permit studies of market share, demand for goods and services, competition from imports in domestic markets, and similar studies. 
A) After being used more than 50 years, NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B) NAICS neither permits comparability across countries nor accurately measures new or emerging industries. 
C) NAICS provides a five-digit national industry code to each of the three countries. 
D) NAICS groups economic activity to permit studies of market share, demand for goods and services, competition from imports in domestic markets, and similar studies.

Question 8

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Which of the following is true about the services provided by Fasteasytrade.com?

Accepted Answer

A) It provides small business buyers and sellers an economical way to increase their customer base. 
B) It offers small business buyers a reduced cost of purchased products and services. 
C) It links large companies with all possible suppliers and customers. 
D) It provides a decentralized market for buyer-seller transactions. 
A) It provides small business buyers and sellers an economical way to increase their customer base. 
B) It offers small business buyers a reduced cost of purchased products and services. 
C) It links large companies with all possible suppliers and customers. 
D) It provides a decentralized market for buyer-seller transactions.

Question 9

If a purchase is a new buy for a manufacturer, the seller should be prepared to act as a consultant to the buyer, work with technical personnel, and expect:

Accepted Answer

A) a long time for a buying decision to be reached. 
B) a lot of conflict. 
C) specifications to be changed many times before the buy is completed. 
D) to have to do some favours for the decision makers. 
A) a long time for a buying decision to be reached. 
B) a lot of conflict. 
C) specifications to be changed many times before the buy is completed. 
D) to have to do some favours for the decision makers.

Question 10

Organizational buyers include all buyers in a nation, including the ultimate consumers.

Accepted Answer

A) True 
 B)False

Question 11

At which stage in the buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

A) problem recognition 
B) information search 
C) purchase decision 
D) post-purchase behaviour 
A) problem recognition 
B) information search 
C) purchase decision 
D) post-purchase behaviour

Question 12

Super Pallets Inc.wants to get rid of excess wooden pallets by attracting the greatest number of potential buyers online.The company could use a _____ to locate a company that is willing to pay the highest amount for the used pallets.

Accepted Answer

A) combinatorial operation 
B) traditional auction 
C) silent auction 
D) reverse auction 
A) combinatorial operation 
B) traditional auction 
C) silent auction 
D) reverse auction

Question 13

In a reverse auction, a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is a marketing mix characteristic of the organizational buying behaviour?

Accepted Answer

A) The focus is on delivery time and post-sale service. 
B) Advertising and other promotional forms are technical in nature. 
C) Online buying over the Internet is widespread. 
D) Goods and services are purchased on the basis of specifications that are technical in nature. 
A) The focus is on delivery time and post-sale service. 
B) Advertising and other promotional forms are technical in nature. 
C) Online buying over the Internet is widespread. 
D) Goods and services are purchased on the basis of specifications that are technical in nature.

Question 15

Digital communications technologies have made content marketing easier for many companies.

Accepted Answer

A) True 
 B)False

Question 16

Five Star Windows (FSW) manufactures high-quality, energy-efficient windows for homes and offices.The number of windows sold is directly linked to the number of new homes built.The sales of FSW's windows go up when the economy is strong and many homes are being built.This information reveals that the demand for FSW's windows is an example of _____.

Accepted Answer

A) derived demand 
B) the price-quality relationship 
C) the acceleration principle 
D) price elasticity 
A) derived demand 
B) the price-quality relationship 
C) the acceleration principle 
D) price elasticity

Question 17

In an effort to make better and more-efficient purchase decisions, Supersaver Inc., a large multi-store chain reseller, has formed formal groups of people to work together on purchase decisions. Which of the following statements accurately describes the people in the groups formed at Supersaver Inc.?

Accepted Answer

A) The groups will not include individuals from other functional areas. 
B) The groups will never contain cross-functional teams. 
C) The organizational buyer will not be a member of the groups. 
D) The composition of the groups depends on the specific item being purchased. 
A) The groups will not include individuals from other functional areas. 
B) The groups will never contain cross-functional teams. 
C) The organizational buyer will not be a member of the groups. 
D) The composition of the groups depends on the specific item being purchased.

Question 18

As more sellers take part in a reverse auction

Accepted Answer

A) Prices fall 
B) Prices rise 
C) Prices do not change 
D) Increased moderation is required 
A) Prices fall 
B) Prices rise 
C) Prices do not change 
D) Increased moderation is required

Question 19

Identify and describe the five roles in a buying centre.

Accepted Answer

There are five roles an individual can p

Question 20

A manufacturer of consumer food products for the Chinese market in North America buys several thousand tonnes of camellia nuts annually.It converts those nuts into cooking oil that is popular among the Chinese population and then sells it to Chinese supermarkets.The pulp from which the oil is extracted is sold to beef cattle farmers who use it to fatten their cattle.These transactions occur in the _____ market.

Accepted Answer

A) vertical 
B) reseller 
C) business-to-consumer 
D) industrial 
A) vertical 
B) reseller 
C) business-to-consumer 
D) industrial

Mark & Co., a regular purchaser of personal computers, wants to change product specifications, price, and delivery schedule of the product.This is an example of a _____.

Business-to-business electronic commerce over the Internet:

Which of the following statements represents an organizational buying decision?

A buying centre is a heterogeneous group consisting of individuals with different goals and knowledge related to purchase decisions.

Mayor &Lawrell Inc.decides to shift its focus to firms looking for quality products and good customer service from those looking simply for lower prices.This is an example of segmenting business market on the basis of _____.

The demand for the cows at Rockeller's dairy farm is based on the consumer demand for milk, cheese, ice cream, cream, and butter.This is an example of inelastic demand.

Which of the following statements is true about the North American Industry Classification System (NAICS)?

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Which of the following is true about the services provided by Fasteasytrade.com?

If a purchase is a new buy for a manufacturer, the seller should be prepared to act as a consultant to the buyer, work with technical personnel, and expect:

Organizational buyers include all buyers in a nation, including the ultimate consumers.

At which stage in the buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Super Pallets Inc.wants to get rid of excess wooden pallets by attracting the greatest number of potential buyers online.The company could use a _____ to locate a company that is willing to pay the highest amount for the used pallets.

In a reverse auction, a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.

Which of the following is a marketing mix characteristic of the organizational buying behaviour?

Digital communications technologies have made content marketing easier for many companies.

As more sellers take part in a reverse auction

Identify and describe the five roles in a buying centre.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 5: B2B Marketing

Mark & Co., a regular purchaser of personal computers, wants to change product specifications, price, and delivery schedule of the product.This is an example of a _____.

Business-to-business electronic commerce over the Internet:

Which of the following statements represents an organizational buying decision?

A buying centre is a heterogeneous group consisting of individuals with different goals and knowledge related to purchase decisions.

Mayor &Lawrell Inc.decides to shift its focus to firms looking for quality products and good customer service from those looking simply for lower prices.This is an example of segmenting business market on the basis of _____.

The demand for the cows at Rockeller's dairy farm is based on the consumer demand for milk, cheese, ice cream, cream, and butter.This is an example of inelastic demand.

Which of the following statements is true about the North American Industry Classification System (NAICS)?

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Which of the following is true about the services provided by Fasteasytrade.com?

If a purchase is a new buy for a manufacturer, the seller should be prepared to act as a consultant to the buyer, work with technical personnel, and expect:

Organizational buyers include all buyers in a nation, including the ultimate consumers.

At which stage in the buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Super Pallets Inc.wants to get rid of excess wooden pallets by attracting the greatest number of potential buyers online.The company could use a _____ to locate a company that is willing to pay the highest amount for the used pallets.

In a reverse auction, a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.

Which of the following is a marketing mix characteristic of the organizational buying behaviour?

Digital communications technologies have made content marketing easier for many companies.

As more sellers take part in a reverse auction

Identify and describe the five roles in a buying centre.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters